Rutledge Capital makes both controlling and minority investments in profitable, growing businesses with revenues between $40 million to $250 million, and uses its worldwide network of operating partners to improve and grow business value. Rutledge Capital has invested more than $150 million in more than three dozen middle market manufacturing, distribution, and service companies over the past ten years.
Dr. Rutledge publishes The Rutledge Report, a weekly investment newsletter. He is Chairman of the Advisory Boards of the B.V. Group, a venture capital, hedge fund, and real estate investment firm, and Saugatuck Capital, a middle market private equity firm.
Dr. Rutledge has an active lecture practice, giving talks on global economics, politics, financial markets, investment strategies, the impact of technology on the economy, and strategies for owning and growing the value of a business. His advice is practical, full of humor, and always up to date, and is designed to give his audiences the tools to do their own thinking about these subjects. They like the fact that he practices what he preaches; after tours of duty in both academics and government policy, he has started, run, chaired, owned, and harvested dozens of real companies, and managed real money in both mutual funds and private equity.
Among his many advisory and speaking clients are General Electric, Boeing, Forbes, Fortune, Fidelity, Franklin/Templeton Funds, UBS, ING Realty, Houlihan Lokey, National Association of Federal Credit Unions, Young Presidents Organization, Association for Corporate Growth, National Association of Manufacturers, Gilder Publishing, Times/Mirror, Turner Construction, Kuwait Fund, Permal, Bobbin Forum, Aluminum Extruders Institute, Steel Service Center Institute, American Petroleum Institute, Institutional Investor, Wachovia Bank, Toyota, Edison Institute, New York Society of Security Analysts, Bankhaus Metzler, Fremont Investment Advisors, Lazard Freres, Rittenhouse Trust, and many others.
Dr. Rutledge writes a regular column in the American Spectator on the intersection of ideas from science and economics, he has written the Business Strategy column in Forbes for more than a decade and writes a weekly column for forbes.com, and he writes a twice weekly column for TheStreet.com. He has written two books, A Monetarist Model of Inflationary Expectations, and Rust To Riches (with Deborah Allen). He has written hundreds of articles for The Wall Street Journal, The American Spectator, Barron’s, Forbes, Fortune, The National Review, The Financial Times, US News and World Report, Business Week, Frankfurter Allgemeine, Boersen Zeiting, and other publications. He has testified before many Congressional Committees and has advised government officials in the US, UK, Ireland, and Kuwait.
Dr. Rutledge founded the Claremont Economics Institute, an economic advisory business in Claremont, California. As CEI’s Chairman for twenty years, he traveled ten million miles and worked in dozens of countries advising the CEO’s of more than one thousand companies on business, financial, and restructuring strategies.
In 1980-81 Dr. Rutledge served as a member of the Reagan transition team as one of the principal architects of the Reagan Economic Plan.
During past twenty years Dr. Rutledge has founded a family of mutual funds, served on the boards of more than three-dozen private and public companies, and participated in over thirty leveraged buyout transactions. He served for many years as an advisor to Kelso & Company.
Dr. Rutledge’s Asset Market Shift framework for analyzing capital markets, in which interest rates and other asset prices are determined by private arbitrage behavior, was extremely controversial when he first introduced it in The Wall Street Journal in the 1980’s. Over the past twenty years he has used the framework in economic analysis, asset allocation, portfolio selection, business strategy, restructuring, acquisitions, and divestitures.
The Asset Market Shift framework forms the basis for the Rutledge Investment Strategies service available through Kudlow & Co., which bridges the gap between macroeconomic analysis and portfolio management. It is based on applying a rigorous foundation from thermodynamics to economics and portfolio management.
This framework is also the basis of The Rutledge Report, a weekly newsletter which advises institutional and individual investors how to structure stock portfolios to take advantage of opportunities created by a temporary divergence of prices from Intrinsic Value. Dr. Rutledge began his career on the faculty of Tulane University and Claremont McKenna College, where he taught monetary economics, international finance, and econometrics.
Dr. Rutledge holds a BA from Lake Forest College, and a PhD from the University of Virginia. He has a passion for mathematics, physics, complex adaptive systems, cognitive science, history, music, and speaks several languages. He divides his time between Greenwich, CT and Maui.